How are you adding value to your business?
“The more you focus on the value your product or service, the less important the price becomes.”
The concept of value-added services has been a popular one for several years. The real issue, though, is that today you are competing in a highly competitive market, and if everyone is offering the same thing, then these products or services become the standard in the marketplace.
In today’s competitive marketplace where so many products and services are viewed as a commodity, the ability to add value to your product or service is an absolute necessity. There is no doubt that in the absence of value-added components virtually any product or service can be driven down to the most bottom line – price. When you are only selling price, you’ll never be able to sell any degree of high margin sales and that is where profitability, long term growth and sales success resides.
If you want to stand out as a business, you will need to have “extra” things in whatever you are doing so that your customer recognise your business and your offer as more superior compared to your competitors.
We have one simple tip by which you can add value to your product or service no matter what it is you sell -Focus on your customer and his/ her experience.
Providing expert advice and a tremendously high level of professionalism
In order for you to be able to deliver real value, what you need to do is to understand that you have to provide a level of advice that is significantly higher, more sophisticated and a lot more valuable than what your competitors offer. What this means is a higher level of sophistication, wisdom and understanding about what it is that you do.
As you probably know, you can add more value to your total offer, which is much more than your products or services, if you provide expert advice to your customers that will enable them smooth instalment or use of your product and services.
We recommend that you start teaching your customers how to do things they want to know how to do irrelevant to what it is that they want to do. If you, as a business personal, have competence as knowledge, skills, and experience, you can add additional value to your customers’ relationship by helping and teaching them how to do something. You will build extraordinary customers experience that will increase the value they perceive related to your company.
Easy Transition and Simple Customer Interaction
As new customers come on stream with your organisation you may want to provide action or transition teams to help them to be better able to utilise the products or services that you provide them. In the same way, the more information or training they have related to those products or services, the more capable they’ll be at utilising them.
Another suggestion we have for you is to try to find ways not only to simplify the methods how your customers can use your products and services but, also think about simplicity in each possible interaction that your customers will have with your organisation.
The simplicity will need to start from your lead generation process to the after-sales support processes. Simplicity can become an enormous source of added value for your company. Simply stating, if you have more steps in your sales process, you will realise fewer sales.
For example, when new customers come into your sales funnel as a customer, you can help them to ensure better utilisation of your products or services that you sell them.
The truth is that everything can have value-added. There is little doubt that the above two tips require creativity, innovation and a willingness to out-work your competition. But the real sad truth is that if you continue to sell the way you always have, price will continue to rule and we can guarantee you that you’ll have a competitor that will take one or both the tips and put them into action.
Your only challenge is to do it before they do it! As the famous confederate general, Nathan Bedford Forrest once said following a battle,
“I won because I got there firstest with the mostest!”
You need to do the same thing and apply our customer-centric tip to your day-to-day business activities.
ABL Recruitment team